Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,051 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Financial Advocates Investment Management’s holdings in Illinois Tool Works were worth $1,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after purchasing an additional 322,192 shares in the last quarter. AXA S.A. grew its stake in Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the period. Guinness Asset Management LTD increased its position in shares of Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after acquiring an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after acquiring an additional 133,853 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Illinois Tool Works by 2,334.0% during the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after acquiring an additional 121,928 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW opened at $263.08 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1-year low of $225.88 and a 1-year high of $271.15. The company has a 50-day moving average of $255.59 and a 200-day moving average of $247.43. The company has a market capitalization of $78.11 billion, a P/E ratio of 22.76, a PEG ratio of 4.21 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 10.16 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.28%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analyst Weigh In

Several research analysts have commented on ITW shares. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Truist Financial upped their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.